USD/CAD: A buying opportunity at 1.3270/60

Jason Sen DayTradeIdeas.co.uk

EUR/USD – USD/CAD

EURUSD broke strong support at 1.1740/30 for sell signal targeting 1.1690/80 then 100 day moving average support at 1.1655/50 for profit taking on shorts. We bottomed exactly here.

USDCAD hit our selling opportunity at 1.3380/1.3400 & we topped exactly here.

Daily Analysis

EURUSD bottomed exactly at 100 day moving average support at 1.1655/50 so this is obviously key to direction this morning. First resistance at 1.1690/1.1700. We could hold this range all morning. Shorts need stops above 1.1720. A break higher targets 1.1735/45. Try shorts with stops above 1.1765.

Longs at 1.1655/50 stop below 1.1645. A break lower is a sell signal targeting 1.1610/1.1590. A break below 1.1580 targets 1.1540/30 then a buying opportunity at 1.1490/80, with stops below 1.1460.

USDCAD topped exactly at our selling opportunity at 1.3380/1.3400. Holding above 1.3320/10 allows a retest of the selling opportunity at 1.3380/1.3400 with stops above 1.3420. A weekly close above here is a buy signal for next week initially targeting 1.3450/60 then 1.3520/40.

A buying opportunity at 1.3270/60 with stops below 1.3240.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.